Senator Ted Cruz offers the lighting law to reuse amazing gases to extract bitcoin

Senator Ted Cruz submitted legislation on April 1 to Re -display Famous gas and use it to create “added products”, such as bitcoin mining (mining (mining)BTC) And other digital assets.

The draft law, which is called the Low Emissions Facilitation Law in the atmosphere (Flare), proposes the use of natural gas produced during oil drilling operations and providing incentives through tax benefits. Full expenditures would allow companies to deduct the cost of eligible property immediately instead of declining over several years.

According to Cruz, the draft law simultaneously addresses two challenges: reducing the emissions of the oil and gas industry and encouraging innovation in energy use.

By marking the extraction of digital assets, the value -added activity, the legislation can transform the federal treatment of mining infrastructure to support the broader goals of energy and the environment.

Flare does not provide new subsidies, but it amends the current tax law to encourage private investment in infrastructure that reduces emissions.

He – she It aims to harmonize economic incentives with environmental reduction efforts by enabling permanent full expenses of the capital used to reuse gas. The draft law has been referred to the Senate Finance Committee, and the additional legislative procedures will determine its way through Congress.

Welcomed

Digital assets and policy groups welcomed the proposal. Matthew Segel, Head of Digital Asset Research in You areand He said:

“It is great to see the Senator Ted Cruz supports bitcoin mining as a solution to reduce emissions and cancel the powerful energy insurance.

Bitcoin’s miners increasingly turned into the powerful sources, including amazing gas, into energy operations. Through colocating with oil fields, miners can capture gases that can be burned, and convert them into electricity to obtain consensus networks to prove work.

This approach also provides the benefits of a flexible load for energy networks, especially in rural and energy -energy areas.

Bitcoin Mining Company Mara Holdings It praised the legislation to allow the full costs of the infrastructure that embodies and restores gas. Company Add:

“Mara supports this legislation. It recognizes the role of bitcoin mining in reducing emissions and eliminating suspended energy.”

The digital energy network, an alliance of mining and energy companies, has released a Official support On its website.

Healy Miller, director of government relations and public policy in the digital energy network, has described the bill as “a huge step forward for the American energy sector and the digital asset industry.”

Miller added:

“By stimulating the seizure of the wasteful natural gas otherwise, the draft law supports the stability of the network, the innovation of energy, and the continued growth of sustainable bitcoin mining in America. We praise the Senator Cruz for its leadership in providing this backward legislation forward.”

In addition, the coalition highlighted many expected results of legislation, such as low harmful emissions, promoting local energy production, improving network elasticity through flexible load response and expanded economic opportunities in rural societies.

The draft law comes amid improvements in the regulatory clarity of the encryption industry in the United States, which adds a positive boost by identifying encryption mining as a legal industrial use that can turn waste into fruitful energy.

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